The Impact of the Great Depression Essay - 926 Words

The Impact of the Great Depression The stock market crash of 1929 sent the nation spiraling into a state of economic paralysis that became known as the Great Depression. As industries shrank and businesses collapsed or cut back, up to 25% of Americans were left unemployed. At the same time, the financial crisis destroyed the life savings of countless Americans (Modern American Poetry). Food, housing and other consumable goods were in short supply for most people (Zinn 282). This widespread state of poverty had serious social repercussions for the country. America’s agricultural economy had already been suffering for a decade when nature conspired against the country to exacerbate the Great Depression. From 1931 through 1939,†¦show more content†¦Everyone scrounged about for small, labor intensive jobs at low wages. Even women and children had to work to subsidize the family income. The recently homeless lived in shantytowns nicknamed â€Å"Hoovervilles† after President Hoover who was moving slowly and ineffectually to deal with the Depression (Wikipedia). Little food was available and many had to search garbage heaps and other such locations for any kind of sustenance. The economic crisis had ushered in a decade of unprecedented mass poverty and poor living conditions. Herbert Hoover, the president in office when the Great Depression hit the country, did very little to ameliorate the devastating situation. Hoover underestimated the seriousness of the crisis, misdiagnosed the causes of the problems, and clung to his beliefs in individual achievement and self-help. His corrective measures, aimed at inflation and the federal budget, were thus damaging themselves. Furthermore, he hesitated to mobilize government resources to aid Americans and instead appealed to private groups to lend a hand (Encarta). Thus Hoover’s administration did little to mitigate the impact of the Depression. With no relief in sight from the government or anyone else, people’s anger and resentment grew. The Communist party and other socialist groups saw a swell in their numbers. Labor strikes and protests against the government began to erupt. The most notable of these was the Bonus Army March on Washington. More thanShow MoreRelatedImpact Of The Great Depression On Canada1361 Words   |  6 Pagesventure inspects what impacts the share trading system crash, that occurred In The United States In 1929, had on Canada s economy. The Great Depression disintegrated The United States economy, as well as Canada s finically solidness because of The extreme changes In The exchanging practices and The raise of levies. Keeping in mind the end goal to answer this inquiry unemployment rates In both The United States and Canada will be taken a gander at amid The years of The Great Depression . An article examiningRead MoreThe Economic Impacts Of The Great Depression1263 Words   |  6 Pag esRodena Woods History 102 Exam 2- Essay Answers Big Essay Question The economic downturn is considered the great depression from 1929-1941 because of the uncontrolled exertion on unlimited goods produced. Other contributions were the risky and irresponsible speculations in the stock market. Banks had invested and lost, and they were buying on margin. There was also increasingly unequal distribution of wealth. Furthermore, the U.S had weak banking systems and banks eventually failed. Finally, thereRead MoreImpact Of The New Deal On The Great Depression1355 Words   |  6 Pages Impact of the New Deal on the Great Depression Preceding the Great Depression, the United States went through a glorious age of prosperity, with a booming market, social changes, and urbanization; America was changing. 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Counseling is a greatRead MoreThe Great Depression ´s Impact on Gender Roles1482 Words   |  6 PagesLisa Cianciulli November 12th, 2013 The Great Depression’s Impact on Gender Roles Change and hardship go hand in hand, because when hard times emerge society is forced to change. During the Great Depression the idea of gender roles stirred up a great deal of controversy but it also opened the door for change. It gave society a push into a new direction. In order to survive, a number of people had to move away from their traditional way of living in order to take care of their household (GoutourRead More The Impact of the Great Depression on Black Americans Essay1141 Words   |  5 PagesThe Impact of the Great Depression on Black Americans The stock market crash of October 1929 was the prelude to the Great Depression. It was a time of hardship and sorrow for many people. American morale was low, and money and food were scarce. Poverty and despair, however, were not foreign to the Black Americans; poverty had been common to them since their days of captivity. To many Black Americans who lived in the south, it was the return of old times. Sharecroppers and farm workers alwaysRead MoreImpact Of The New Deal And Programs On The Great Depression1274 Words   |  6 Pages Impact of the New Deal and programs on the Great Depression Preceding the Great Depression, the United States went through a glorious age of prosperity, with a booming market, social changes,and urbanization..America was changing. At the end of the 1920’s well through the 1930’s, America was faced with it’s greatest challenge yet. The 1929 stock market crash was the end to the prosperity of the â€Å"Roaring Twenties†. Now the people and government were faced with a huge problem,a failing economy. President